The Federal Reserve is expected to hike benchmark interest rates by 25 basis points to 3.75-4% on Wednesday despite dissenting officials favoring a hold. The Senate will vote Tuesday on the CLARITY Act, a 635-page bipartisan bill to provide a legal framework for the US crypto industry, requiring 60 votes to pass the procedural motion; Polymarket gives only 34% odds of it becoming law in 2026. Bitcoin failed to defend the $78,300 support level at weekly close, ending around $76,800 and closing below its 50-week exponential moving average at $77,380. Funding rates are turning bullish while open interest dropped 13.5% in one week as traders brace for volatility from both events.
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